Memecoin Madness: Eddie Seal Team Insults Investors and Returns Money from Presale

Two
weeks
ago,
the
Eddie
Seal
memecoin
project
($EDSE)
began
raising
funds
for
development
through
a
presale
event.
On
Wednesday,
a
controversial
post
appeared
on
the
project’s
Twitter,
where
the
team
labeled
the
presale
investors
as
‘morons’.

“You
morons.
You
invest
in
a
presale
of
a
new
memecoin
and
then
cry
when
someone
runs
off
with
the
money.
Get
a
grip
and
be
careful
because
99%
of
presales
are
scams.
We
have
returned
all
the
payments
to
the
wallets
from
which
they
were
sent.
Eddie
will
proceed
without
a
presale!” reads
the
tweet
from
Eddie
Seal
profile.

This
incident
is
quite
unusual,
given
market
norms.
Memecoins
are
not
financial
instruments,
hence
funds
raised
through
presales
are
not
regulated
in
any
way.
It
is
unprecedented
for
a
project
team
to
refund
all
investments
made
by
individuals.

The
refund
might
have
been
an
attempt
by
the
Eddie
Seal
team
to
build
credibility
within
the
crypto
community,
especially
as
Eddie
Seal
has
announced
six
marketing
rounds
aimed
at
reaching
a
$1
billion
marketcap.
The
campaign
will
culminate
in
an
Eddie
Seal
cartoon,
in
the
style
of
Rick
and
Morty
or
Family
Guy.
The
six
marketing
rounds
include
sponsoring
a
Formula
1
team,
a
Harry
Styles
(or
another
top
tier
star)
concert
at
Wembley
with
tickets
for
$1EDSE,
a
‘spending
money
competition’
with
10,000
credit
cards
linked
to
one
account,
and
a
$3
million
donation
to
MrBeast
for
spending
in
one
of
his
videos.

It
was
also
announced
that
the
team
plans
to
distribute
part
of
the
$EDSE
tokens
to
the
community
gathered
around
the
project
in
the
form
of
an
AirDrop.
Sign-ups
are
expected
to
start
soon.

The
price
of
the
$EDSE
token
in
the
coming
days
will
reveal
how
the
market
has
reacted.
The
token
contract
address
for
price
tracking
is
available
at eddieseal.org or
listed
here:
2Zvo6bnwJtyXhsPgbcfajTrEtB7NwrJhK8mMmtEXvHHc

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